Blog - Paul Lamba

Worried about Finding a Home if You Sell First?

There are many reasons why selling your current home before buying another one may be a good idea. But, once you’ve made that decision, you may still worry that you won’t find another home to buy after you sell.

Fortunately, there’s plenty you can do to minimize that possibility.

For example, if you sell first, you’ll know exactly how much you can put toward a new home. Having that specific number in your back pocket will enable you to target your search and immediately jump on buying opportunities. When you see a home you like, you won’t have to wonder, “Can we afford it?”

Creating a buying plan will also help you quickly find the home you want.

Ideally, it should have a shortlist of neighbourhoods or areas you are considering. Narrowing…

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What to Do When Closing Dates Don’t Match

If you want to sell your current property and purchase your next dream home, you might wonder whether the closing dates need to be on the same day. You might even be worried that you’ll lose a property if the closing dates overlap, or you’ll be put out on the street if the dates are far apart!

For the most part, these concerns are unfounded. Thousands of properties change hands daily, and everything usually works out just fine. It’s amazing how often closing dates match!

But what happens if the closing date of the home you want to buy is days or weeks earlier than the closing date of your own property? Most lenders anticipate this situation and offer something called “Bridge Financing.” A special loan allows you to purchase the property…

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February Housing Statistics: "Edmonton Housing Sales See Strong Month-Over-Month Increases"

Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for February 2023 decreased 43.4% compared to February 2022 but saw an increase of 31.2% from January 2023. New residential listings were down 12.9% year-over-year from February 2022, while also noting an increase of 15.1% from January 2023. Overall inventory in the GEA was up 20.8% from February of last year, and up 8.5% from the previous month.

For February, detached unit sales were down 50.9% from February 2022, but saw an increase of 24.4% from January 2023 at 725. Semi-detached unit sales were down 47.7% year-over-year but increased by 50% from January 2023. Row/Townhouse unit sales also decreased 33.9% year-over-year and increased 26.4% month-over-month.…

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March Home Maintenance Checklist

Your future self will thank you for taking good care of your home! No one wants to spend thousands of dollars on home repairs, but that's what can happen if you neglect regular home maintenance and ignore the early warning signs. You'll save money, time, and headache down the road by dealing with issues before they become more significant and potentially life-threatening.

Need a place to start? Here is your March home maintenance checklist:

 1. Change HVAC filters

2. Test carbon monoxide and smoke detectors

3. Inspect roofing for damage

4. Wash windows and siding

5. Power wash driveway

6. Check all locks on doors and windows

7. Uncover and clean patio furniture

8. Check and unclog gutters

9. Clean out your spice…

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Pros and Cons of Buying a Home As-Is

Buying a home as-is can be enticing. The price point can be more affordable for those who’ve been struggling to get into the market. For others looking to buy when the housing supply is low, it can present a viable avenue to explore. However, it’s important to bear in mind the decision to buy a home as-is works for some but not for all.

Buying a home as-is means “the homeowner is selling the home in its current condition, and will make no repairs or improvements, before or after closing,” says Nick Kyte, a REALTOR® and salesperson in Ottawa, Ontario. “Essentially, what you see is what you get, but what you don’t see is also what you get.” 

When the correct steps are taken, buying a home this way could be a calculated and worthwhile risk that pays…

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Synthetic and Composite Countertops

New countertops have always been a major contributor to kitchen makeovers, and the range of choices has never been greater. Beyond laminates and tile, or natural stone, wood and bamboo, some durable acrylics have become quite popular.

But, there are also newer composite materials that offer advantages which might make them an ideal compromise between natural and synthetic countertops. Generically known as solid surface, engineered stone or quartz composite, they go by many different brand names, and have unique features not found in other surfaces.

For example, they tend to be harder and more durable and stain resistant than traditional countertops, because they are formed with a combination of natural materials and synthetic bonding compounds.…

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January Housing Statistics: "YEG Housing Market Sees Stable Transition Into New Year"

Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for January 2023 decreased 25.8% compared to January 2022 and saw a small decrease of only 0.2% from December 2022. New residential listings were up 8.5% year-over-year from January 2022, while also noting an increase of 94.8% from December 2022. Overall inventory in the GEA was up 13.2% from January of last year, and up 5.3% from the previous month.

For January, detached unit sales were down 32.1% from January 2022, but saw a small increase of 1.4% from December 2022 at 583. Semi-detached unit sales were down 35.9% year-over-year but increased by 2.0% from December 2022. Row/Townhouse unit sales also decreased 5.7% year-over-year and increased 10.4%…

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MEGA OPEN HOUSE TOUR!

You are cordially invited to a MEGA OPEN HOUSE TOUR!!

When: Sunday, February 5, 2023

Time: 2:00 pm - 4:00 pm

Location: Creekwood, Chappelle Neighbourhood SW Edmonton. Click here for the map and locations of all the homes participating in the tour!

Check out over 24 different properties located in the sought-after communities of Creekwood/Chappelle. The homes are resale and new construction homes - definitely a must-see!

ENTER TO WIN AN iPAD courtesy of Klair Custom Homes!

Here's how: There are over 24 homes to view - enter a draw at each location and increase the odds of winning!  View one or all of the homes! The winner will be announced at 5:00 pm at Klair Custom Homes Showhome located at 5606 Cautley Cove.

Located Specifically…

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3 Days To Getting Your Finances In Order For 2023" Challenge: DAY 2!

 DAY 2: CHECK YOUR CREDIT

If you plan to buy a house in the next year, checking your credit score is something you should consider doing now. Credit plays a huge role in qualifying for a mortgage. As a homebuyer, your credit score will positively or negatively affect your loan options, interest rates, mortgage terms, and how much house you can afford. Even if you aren't looking to purchase a home anytime soon, annually checking your credit score is a good financial habit to build. Doing so will allow you to:

1. Regularly dispute any errors to your credit bureau.

2. Build and maintain good credit by consistently assessing your current credit position.

3. Stop identity theft and credit card fraud early on.

4. Manage your finances and…

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Getting Your Finances In Order For 2023 Challenge: DAY 1!

Now is the perfect time to review your finances and set yourself up for financial success in 2023. Each Wednesday for the next 3 weeks, I will be sharing a tip or task to help you reevaluate your budget, assess your spending habits and expenses, review how you manage your money, and set new goals to build a better financial future.

To kick off our "3 Days To Getting Your Finances In Order For 2023" Challenge, let's start with day 1!

DAY 1: SET A SAVINGS GOAL 

We all know that saving money is important, yet very few of us put money into our monthly savings accounts. If saving money has been a challenge for you in the past, here is my suggestion. Make a realistic savings goal for 2023. Your savings goal needs to be specific, measurable,…

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